Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) Receives Average Rating of “Strong Sell” from Brokerages

Shares of Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) have been given a consensus rating of “Strong Sell” by the eight analysts that are covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $26,072.00.

Separately, Morgan Stanley reissued an “underweight” rating and issued a $4.00 price objective on shares of Maxeon Solar Technologies in a research note on Friday, November 15th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MAXN. Paloma Partners Management Co acquired a new position in Maxeon Solar Technologies in the 1st quarter worth about $44,000. XTX Topco Ltd grew its holdings in shares of Maxeon Solar Technologies by 343.8% during the third quarter. XTX Topco Ltd now owns 674,890 shares of the company’s stock worth $65,000 after purchasing an additional 522,830 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Maxeon Solar Technologies by 275.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 84,612 shares of the company’s stock valued at $72,000 after buying an additional 62,054 shares during the period. Point72 DIFC Ltd bought a new position in Maxeon Solar Technologies in the 2nd quarter valued at approximately $86,000. Finally, Verition Fund Management LLC bought a new position in Maxeon Solar Technologies in the 3rd quarter valued at approximately $113,000. 47.67% of the stock is currently owned by institutional investors.

Maxeon Solar Technologies Stock Performance

MAXN opened at $7.50 on Friday. Maxeon Solar Technologies has a 52-week low of $4.98 and a 52-week high of $779.99. The firm has a market cap of $4.12 million, a P/E ratio of -0.01 and a beta of 1.42. The business’s fifty day moving average is $333.18 and its 200-day moving average is $6,456.14.

Maxeon Solar Technologies (NASDAQ:MAXN) last announced its quarterly earnings data on Tuesday, September 3rd. The company reported $300.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($11,200.00) by $11,500.00. The firm had revenue of $184.22 million for the quarter, compared to the consensus estimate of $175.35 million. Maxeon Solar Technologies had a negative net margin of 43.85% and a negative return on equity of 1,598.11%. On average, research analysts predict that Maxeon Solar Technologies will post -27 earnings per share for the current fiscal year.

About Maxeon Solar Technologies

Maxeon Solar Technologies, Ltd. designs, manufactures, markets, and sells solar panels and related solar system components worldwide. The company provides interdigitated back contact and shingled solar cells and panels under the SunPower brand. It offers its products to dealers, project developers, system integrators, distributors, resellers, and residential and small-scale commercial customers.